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posted ago by VolareVia +11 / -0

Ram through a Constitutional Amendment using either a Convention of States or by Executive Fiat (for if Trump crosses the Rubicon) that abolishes the Federal Reserve and creates a new national currency backed by an American resource. It has to be uniquely American, or else foreign countries will have an interest in manipulating the value by fixing the price of the resource.

One idea is to have the currency backed by land. Each plot of American land would be assigned a serial number, and the serial numbers of all bills affiliated with that land would include the serial number of the land. The only way to produce more bills is for private citizens to sell off parts of their land and have new land serial numbers produced.

Some additional provisions: In order to make this work, non-citizens would be barred from subdividing their land. Non-citizens would only be allowed to own land if it was for commercial reasons.

The downside of this is that as soon as it was announced, the value of the Greenback would plummet, making all people in the US temporarily dirt poor. The upside is that this is also true of any nation that currently is owed a debt by the US. If the official currency value drops through the floor, so does the real value of the debt.

That's a big downside, with a big upside. That tradeoff may even potentially be avoided if this was done right.

Ram through a Constitutional Amendment using either a Convention of States or by Executive Fiat (for if Trump crosses the Rubicon) that abolishes the Federal Reserve and creates a new national currency backed by an American resource. It has to be uniquely American, or else foreign countries will have an interest in manipulating the value by fixing the price of the resource. One idea is to have the currency backed by land. Each plot of American land would be assigned a serial number, and the serial numbers of all bills affiliated with that land would include the serial number of the land. The only way to produce more bills is for private citizens to sell off parts of their land and have new land serial numbers produced. Some additional provisions: In order to make this work, non-citizens would be barred from subdividing their land. Non-citizens would only be allowed to own land if it was for commercial reasons. The downside of this is that as soon as it was announced, the value of the Greenback would plummet, making all people in the US temporarily dirt poor. The upside is that this is also true of any nation that currently is owed a debt by the US. If the official currency value drops through the floor, so does the real value of the debt. That's a big downside, with a big upside. That tradeoff may even potentially be avoided if this was done right.
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Tawburgle2 1 point ago +1 / -0

"Permit me to issue and control the money of a nation, and I care not who makes its laws." -Mayer Anselm Rothschild